Headed By NIC Chairman Dr. Sami Al- Araji
NIC Board of Directors Discusses a Number of Big Investment Projects
NIC Chairman, Dr. Sami Al- Araji discussed with members of the board of directors the implementation stages of a number of the big investment projects adopted by NIC, that was during heading the 19th periodic meeting of the board of directors on the 14th of October.10 at the NIC premises, during which he referred that good amount of progress had been achieved in the negotiations with the applying companies for the project of the One Million Housing Units.
Methods required to eliminate obstacles that hinder investing in Iraq were also discussed during the meeting in order to accelerate the implementation of the licensed investment projects.
In addition the Implementation stages reached by some projects as Al- Mustaqbal City project and Al-Rasheed project were also discussed.

NIC Chairman, Dr. Sami Al- Araji :

Iraq is Aiming to attract foreign investments of 600 Billion $

NIC Chairman, Dr. Sami Al- Araji asserted that the government had laid a plan for economic development over the next five years through which it aims at attracting investment projects of total capital of 86 billion $ referring that the NIC goal is to exceed this number to 600 billion $.
He added in a press interview ” we strongly hope to be able to achieve this plan, nevertheless we would be very happy if we could achieve good part of it like over 50%, referring to the huge projects prepared by NIC to achieve the said goal like the project of the One Million Housing Unit of total capital of 50 billion $.
Al- Araji also revealed that the commission is studying raising the number of the targeted housing units in to Two Million Housing Units especially after the big interest the project had met by foreign companies as more than 132 foreign companies had submitted their applications whereas the commission is focusing on 35 one and will sign agreements with them by the end of the year.
Beside the housing project, Dr. Al- Araji referred that the commission is also focusing on attracting investments in important sectors like electricity, communication, transport and oil refining assuring that many investors especially from France, Turkey, US and UK had shown interest to invest in Iraq.

Babil Investment Commission announced that investment size that had been brought in to Babylon province this year had reached 600 Million $ after awarding 33 investment licenses for projects in all sectors.
BIC Vice Chairman, Mr. Muhammed Al- Taie added that his commission had recently awarded an investment license for constructing a complex to make bricks of annual capacity of 75 Million Piece and another license for constructing another bricks manufacturing complex of annual capacity of 400 million piece and of 120 million $ capital.
Mr. Taie also said that a license had been awarded for three bottled water plant in addition to commercial malls and a Chinese complex to exhibit and sell Chinese products especially construction materials.

For enhancing & Protecting Investments Between the Two Countries
NIC Participates in the meeting of the Iraqi- Syrian Joint Committee held in Damascus

NIC participated in the seventh session of the Iraqi- Syrian joint committee held in Damascus for the period 6-7.Nov.10 which aimed at enhancing and reinforcing cooperation between the two countries in various sectors.
Mr. Adnan Al- Ramahi, DG of Legal Dept. and the NIC representative in the said committee mentioned that the Minister of Trade Dr. Safa Al- Deen Al- Safi had headed the Iraqi side in the meetings while Ms. Lamea Mry Assi, Minister of Economy and Trade had headed the Syrian side.
Mr. Ramahi added that there were several points agreed upon most important of which was cooperation in investment feild, where the two sides agreed to hold a meeting between the National Investment Commission in Iraq and the Investment Commission in Syria and to activate the investment seminar which is supposed to be held in Damascus to promote investment, also the meeting sides agreed to follow up the agreement of (promoting and protecting investments between the two sides) and (the memorandum of cooperation in investment field between the Republic of Iraq and the Arab Republic of Syria) before signing both.
In economic field, Mr. Ramahi also assured that the two sides agreed on continuing the two countries adherence to the regulations of the Huge Arab Commercial Free Zone and maintaining joint coordination in the Arab and International events in a way that achieve the two sides benefits and the continuation of granting the origin certificates, the two sides also discussed reviewing cancelling the import licenses imposed on some promotional goods for the products in the two countries in addition to cooperating in holding fairs and encouraging markets and foreign trade.
NIC representative referred to founding the Iraqi- Syrian Businessmen Council during the meeting of the joint committee and agreeing upon granting entry visas to businessmen according to the letters issued by unions of chambers of commerce and industry in both countries and establishing joint free zones between the two sides.
The meeting also covered cooperation in various other fields like ( finance and banks, irrigation and water resources, planning, higher education and culture, training and expertise exchange, industrial field, specifications and standards ) . Other important subject was also discussed which is the connecting line between Iraq and Syria and reactivating the connecting line No. 132 K.V between Tal abo Dhahir station in Iraq and Al- Sewaidia station in Syria.
At the end of the meeting, the two sides agreed to hold a follow up joint committee meeting in April. 2011 to be headed by the vice chairman of each side in order to carry out the points agreed upon during the ministerial committee meetings.

NIC Chairman Dr. Sami Al- Araji received ambassadors of Japan and Greece to discuss investment projects of mutual concern

NIC Chairman meets with several South Korean companies discussing the requirments of implementing their obligations in the project of the One Million Housing Unit

NIC Chairman .. Emphasizes that the Fair is a Fundamental Base for Investment Promotion process in Iraq

NIC Chairman, Dr. Sami Al- Araji emphasized that the commission’s participation in the fairs and international events especially those held in Baghdad ahead of which Baghdad International Fair is considered as a fundamental base for investment promotion process in Iraq, that was during his visit to Baghdad International Fair in its 37th session which was held in Baghdad for the period 1-10.Nov.2010.
He added “We are so happy for the participation of foreign and local companies in this fair as this participation is considered as a very good proof of the interest and contribution these companies are making to the reconstruction process” asserting that NIC and through its participation in the fair with other provincial investment commissions had responded to all enquiries made by investors and Iraqi citizens especially those attached to investment law No. 13 for the year 2006 and its amendments with all the privileges and guaranties this law is presenting and procedures taken by the One Stop Shop to utilize all investors needs.
Dr. Al- Araji also referred to the efforts made by NIC to promote the investment process in Iraq during the year 2009 while in 2010 a decision had been made to change the promotion strategy by holding direct meetings with foreign and local investors and making achievements on the ground stressing that Iraq obtains great natural resources and capacities that enable it to attract most of the international developed companies and create solid partnerships in all sectors.

NIC Chairman, Dr. Sami Al- Araji met with the Italian Ambassador in Baghdad and discussed a number of Investment projects of mutual interest.